Investment Company Institute CEO warns SEC on money market rule

02/19/2012 | RIABiz.com

A proposed rule from the Securities and Exchange Commission could undermine the money market fund industry, Investment Company Institute CEO Paul Schott Stevens says. Stevens says the rule, which would undo the stable $1 net-asset-value minimum and add capital requirements, would scare millions of investors from the market. The SEC should stick with the rules it adopted in 2010 that have helped stabilize the money market industry, Stevens says.

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